Are you looking for a better interest rate on your savings accounts? We have compiled the below lists of banks with some of the best online savings accounts interest rates.

Most digital banks offer much better interest rates than on traditional accounts. This is because they have leaner businesses and do not have costs of operating physical branches. They pass these cost savings onto the customer, resulting in higher yields.

Plus cash savings deposited with banks allows you to earn money with the power of compound interest.

Click an account type below to view savings accounts interest rates.

Many of these savings accounts can be opened and held through the SaveBetter platform. SaveBetter is a digital savings platform that allows users to open, hold and manage savings products from multiple providers within the one online account. Giving greater convenience and more choice of savings products.

Fintech and digital banking company Raisin operate it so you can be sure it is secure and high quality. Not all banks are available through this platform. Those that are will be indicated in the best online savings accounts interest rates tables below.

Take a look at the banks and savings accounts on SaveBetter.

If you are wondering if it is worth switching accounts, check out this blog post to see why it’s important to switch savings account.

Money Market & High Yield Accounts

Both money market and high yield accounts offer better interest than standard savings accounts. A high yield account is just like a regular savings account but with a lot higher yields.

A money market account is like a bit of a hybrid account. It has the benefits of a savings account with some extra privileges you might get from a checking account.

Short To Medium Term CD Accounts

A Certificate of Deposit account (CD) is a fixed term savings product. They often pay higher rates of interest for locking cash away for the specified time period. If you need to access your cash before the maturity date then you usually receive a penalty. This varies between banks but will result in a loss of some interest. Some accounts may have exceptions and penalty free withdrawal limits.

CD accounts are available for a multitude of lengths. Those listed in the table below cover the short to medium term of 2 years or less.

Medium To Long Term CD Accounts

The CD accounts listed in the table below cover the medium to long term of over 2 years in length.

Note these are correct as of May 2022. We endeavour to ensure the information on this page is accurate but rates are subject to change at any time. Please join our newsletter to keep updated with all the latest products, news and content.

View the best checking accounts online here